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GoCs Steady Ahead Of Upcoming Data

CANADA
  • GoCs moving very much in line with Tsys since open except at the very long end, with GoCs little changed on the day.
  • Potential local drivers ahead with GDP implications from mfg/wholesale trade sales and price implications from existing home sales but very muted so far.
  • Data: Housing starts saw a beat in April but within the usual volatility of the series and driven by multi-units as single-detached starts edged lower. Starts remain above pre-pandemic levels, required to help ease demand-supply imbalances.
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